HPH has considerable and specific knowledge and experience in the Medical Practices sector; we understand the needs of partners in general practice.
This is a time of rapid change in the health service and it is important for doctors to be able to devote maximum time to patient care. This is where our team can help, by providing specialist knowledge on budgeting, financial and tax matters.
As soon as we meet with you we will spend time getting to know you and understanding your particular needs. We can offer you a portfolio of services that is specifically tailored to you and your practice. These services will include where necessary:
- Accounts in recommended format
- Review of efficient use of capital accounts
- Advance warning of future tax liabilities
- Advance warning of superannuation liabilities
- Preparation of superannuation certificates
- Retirement planning
- Partners being made aware of all tax allowable expenses
- Comparatives of practice income with other similar types of practice
We can also advise you on:
- Partnership deeds
- Effective use of working capital
- Calculation of drawings
- Budgeting and financial management
- Surgery finance (cost rent scheme and private finance initiative)
- Inheritance tax planning and capital gains tax planning
There are considerable benefits to using the HPH specialist support and services for Medical Practices:
- We are members of the Institute of Chartered Accountants in England and Wales Specialist Healthcare Group, a discussion forum for accounting specialists acting for medical practices
- We understand the terminology and the jargon
- We can help you identify areas where as a practice you are under performing
- We offer proactive advice on a wide range of accountancy, taxation and financial issues, including the NHS Pension Scheme.
For expert advice on your making the most of your Medical Practice, please contact us.